Glossary term

Sukanya Samriddhi Yojana

Government scheme for parents of girl children — currently 8.2% tax-free, matures at the daughter's 21st birthday.

Sukanya Samriddhi Yojana (SSY) is a government savings scheme for parents of girls under 10 years of age. Current rate: 8.2% per annum, compounded annually, fully tax-free. Maximum deposit: ₹1.5 lakh per year per girl.

Deposits are eligible for Section 80C. The account matures on the girl's 21st birthday, with partial withdrawal allowed for higher education or marriage after she turns 18.